China Fuel Oil Tax Rebate No Risk to Singapore Bunker Supremacy

China’s approval of tax rebates for fuel oil suppliers may boost local sales of shipping fuel, but the country’s ports are unlikely to challenge Singapore’s status as Asia’s bunkering hub, according to analysts.

• Singapore bunker fuel sales totaled 47 million tons last year, according to data from the city-state’s port authority. China’s shipping fuel production is small relative to its refining capacity, with total bunkering volumes of around 20 million tons annually, the Oxford Institute for Energy Studies said in a note
• “China currently is hitting below its weight when it comes to bunker supply, considering how busy its ports ...